06 December 2019

US Non-Farm Payrolls: Friday, 13:30. The US economy gained 128,000 jobs in October, below the long-running averages but above low expectations, stemming from the strike at General Motors. Moreover, revisions for previous months showed that job growth was considerably better than initially reported, as upward revisions added 95,000 to the count of the US workforce. While monthly wage growth came out at only 0.2%, earnings rose by 3% yearly, an encouraging outcome. Headline NFP is set to rise by 183K, monthly wage growth by 0.3% and annual salary increase by 3%.

Canadian jobs report: Friday, 13:30. After benefiting from blockbuster labor market figures during most months in 2019, Canada lost 1,800 positions in October, worse than expected. The nation likely returned to net gains in November, with a projected gain of 15.9K The unemployment rate remained at 5.5% and carries expectations for a rise to 5.6%.

US Consumer Sentiment: Friday, 15:00. The dust will not have settled from the NFP when the preliminary Consumer Sentiment figures from the University of Michigan are released. The forward-looking gauge is released early in December, ahead of the Christmas holiday. After falling in September, confidence recovered and topped 95 points in November. A marginal decrease to 96.5 is on the cards.

CAD
Canadian jobs report

USD
US Non-Farm Payrolls

US Consumer Sentiment

  • EURUSD

Update: We remain the same. The pair is about to reach a strong resistance level that is the downtrend line shown on the chart in red. Therefore, we will be waiting for some bearish evidence to show up then we can go short targeting the level of 1.0990 during the week. On the other hand, breaching the downtrend line to the upside can open the door for further upward movement during the week that it might reach the level of 1.1300.

Resistance levels: Support levels: Recommended:
▪ 1.1500
▪ 1.1400
▪ 1.1300
▪ 1.0993
▪ 1.0900
▪ 1.0850
We are bearish as long as the pair is traded below the downtrend line.
  • GBPUSD

Update: The pair has reached the resistance level. Waiting for bearish evidence to show up. The chart above shows that the pair is about reaching a strong resistance level that is 1.3177. Therefore, we will be waiting for the pair to reach that level then in case it shows up bearish evidence, we can go short targeting the level of 1.3000. On the other hand, breaching the above-mentioned resistance level, can open the door for an upward movement during the week that it might reach the level of 1.3300.

Resistance levels: Support levels: Recommended:
▪ 1.3300
▪ 1.3200
▪ 1.3177
▪ 1.2982
▪ 1.2900
▪ 1.2850
Wait for the pair to reach the resistance level.
  • GOLD

Update: The pair is traded in a very tight range so we remain the same. The chart above shows that the pair is traded within a descending channel. It is traded just right below the upside of the channel. Therefore, we will be waiting for bearish evidence to show up below it, then we can go short targeting the level of 1470 followed by 1465. On the other hand, a daily close above the upside of the channel can enhance the chances that the pair might reach the level of 1500 followed by 1510.

Resistance levels: Support levels: Recommended:
▪ 1510
▪ 1500
▪ 1470
▪ 1465
▪ 1455
We are bearish as long as the pair is traded below the upside of the bearish channel.
  • AUDUSD

Update: We remain the same. The chart above shows that the pair is traded below a strong resistance level that is the downtrend line. In case the pair shows up bearish evidence below it, we can go short targeting the level of 0.6730 followed by 0.6695. On the other hand, breaking the downtrend line to the upside, can open the door for further upward movements during the week that it might reach the level of 0.7000.

Resistance levels: Support levels: Recommended:
▪ 0.7123
▪ 0.7050
▪ 0.7000
▪ 0.6730
▪ 0.6695
▪ 0.6672
We are bearish as long as the pair is traded below the downtrend line.
  • GBPJPY

Update: The pair is about to reach the resistance level as expected. The pair managed to break through a strong resistance level that is 141.46. Therefore, we are bullish as long as the pair is traded above it. Our first target is 143.80.

Resistance levels: Support levels: Recommended:
▪ 144.50
▪ 144
▪ 143.80
▪ 141.46
▪ 141
▪ 140.60
Follow the scenarios

Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an o